Dino Inc. projects cash collections of $106,000 and $180,000 for June and July respectively; cash payments are expected to be $117,400 for June and $104,000 for July. They are required to maintain a minimum cash balance at the end of the month of $10,000. Dino has a $50,000 line of credit and can draw down (borrow) in multiples of $1,000. The interest rate on borrowings is 2% each month. The beginning cash balance for June is expected to be $14,000. There were no borrowings at the beginning of June. How much will Dino need to borrow in June? 1) $1,400 2) They do not need to borrow in June 3) $2,000 4) $8,000